What Does Innovation mean in today’s world? Innovation can be simply put up as any new idea or method of doing a particular thing. However, it does not only mean just this – Innovation is also often viewed as the application of more effective solutions to meet new requirements. A very recent, effective and substantial application of such innovation has been observed in the field of E-commerce stores where Social Media Networking has been playing a big role in helping these stores increase their sales by selling through social media. It is evident that we are surrounded by internet applications everywhere and, thus, if nurtured well these applications would propagate the E-commerce stores in ways we do not know.
With the introduction of technological access to everything at our fingertips, it is not wrong to say that social media is one of the most helpful options for online marketing and advertising and that there is a substantial impact of social media on e-commerce. It is the finest way to reach to customers since it has a measurable impact on customer purchases and focuses mostly on brand awareness. E-commerce stores are in a struggle to drive traffic towards their store and this is where Social Media strategy can be used as a leverage. AdWeek confirmed that 91% of the eCommerce stores use two or more social networking sites for their business. It is also important to consider the fact that 75% of the E-commerce generated sales came from Facebook, Twitter, and Pinterest back in 2013.
Let us now take a look at the power of Social Media Networking in increasing eCommerce Sales and the insights on why businesses use social networking for their conversions.
Customer Awareness and Higher Influence
Since social media provides details of an E-commerce product openly and in a very comprehensive manner, it is more influential than traditional ways of advertising because of its authenticity. With active social media networks, it is easy to circulate the product on a very large scale and yet, to very specific customers if required. These social networks allow recommendations for their products and hence, related people are being aware of the product as well. According to Nielsen, 92% of the consumers trust the recommendations of family or friends. This influence, in turn, helps in boosting the sales of the store. With applications like Facebook and Twitter, E-commerce stores have a better control and view over these reviews. Social Media also provides a platform for knowing the customers in a much better way – once an E-commerce store has built a social relationship with the customers, it can be assured that these customers would not be easily willing to change their preferences. In case of new products, these stores can ask for polls and votes such that they have a better understanding of product requirements.
Retargeting simply refers to the process of showing a consumer the products that he has been interested in his last visits. In this way, a customer views the products and the related products much more prudently. It has happened many times that customers visit the store but are not inclined to buy a product on the first go. However, with retargeting, there are chances for the E-commerce store to remind the customers of what they had been looking for and maybe, they would buy it this time. Logically, if customers are scrolling down a social network and can view there are products which they had searched on some other website, they would be more keen on buying it.
The “BUY” Button
Very recently Instagram and Pinterest have joined Facebook and Twitter in the league of the “BUY” button sites. Instagram also allows you to use Instagram Stories Ads, which appears between two stories from the two different users you are following. With the introduction of buy button in social networking, these media channels are becoming marketplaces themselves by allowing customers to purchase the products directly from there, without having to go to the E-commerce store end. This is a beneficial move since almost everyone is at an advantage – the sales for the E-commerce store boosts up rapidly with the extensive use of social network, and it makes quick and easy purchase process for the consumers as well. This ease, in turn, makes the customer rely on these networking sites for their purchases in the future as well and hence promising a growth for the eCommerce market share and sales.
Special Offers via Social Media Networking
One of the best ways for E-commerce stores to increase their sales using social networks is by making an offer or a discount which catches the eye of the viewers and something which they cannot refuse easily. For example, Facebook Offers lets you create special offers for your products through its extensive ad network. Also, maintaining exclusivity in each offer seems reliable and social network users interested in it consequently tend to buy the product. There is another advantage – if a probable customer can view an offer only on the social media network and not on the E-commerce store frontend, they would be willing to buy to buy the product via the social website rather than the E-commerce store itself. However, it, in turn, would lead to only one thing – increasing sales for the store.
These are few of the ways in which Social Media Networking help an E-commerce store boost up its sales. While there are still many more ways to use social media to increase sales, it is important to note that E-commerce stores have gained higher popularity and the credit goes to these Social Networking Sites. And, in the future, we can also anticipate much better and newer strategies in which these sites might help in sales boost. If an E-commerce business can learn to accept and apply social media platforms into their workings, they would be likely to taste success since these platforms have proved themselves to be one of such kind. Expecting an immediate increase in sales is a bit outlandish; however, over time, these stores will surely find out that their sales are increasing due to the marketing they had once done on the social media.
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